Retroactive Date

What Does Retroactive Date Mean?

The retroactive date is the date when insurance coverage begins. Claims filed for incidents that occurred before this date will not be covered. However, claims filed on or after the retroactive date will be eligible for coverage, provided they are submitted within the coverage period’s limits.

Insuranceopedia Explains Retroactive Date

Retroactive dates are commonly used in claims-made insurance policies and are crucial in determining whether a particular claim will be covered. For this reason, policyholders should be aware of the retroactive dates for their policies. It is also important to file any claims before the policy expires, as failure to do so may result in the insurance company not reimbursing the loss, leaving the policyholder to bear the full financial burden.